Is bitcoin a threat to USD and Pound Sterling?

[Lambe Ndumble]

I do not think bitcoin is a complement of the fiat that currently has many restrictions, and I do not think bitcoin will ever be a threat to dollars, euros or pounds someday.

[Coin_trader]

Hello guys,

Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?

if yes, give an estimated time this can happen.

Yes, definitely it is! It is a threat not only to those you already mentioned but to all the fiat currencies of the world, it is a threat to all the existing financial institution most especially to the banking sector where the Bitcoin would take its place and remove the third party of any transaction and it is happening now but of course, the resistance from this sector is here thru the government whose the primary beneficiary of the current financial systems today.

[dirham99]

Hello guys,

Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?

if yes, give an estimated time this can happen.

In my opinion, Bitcoin is not a threat to both. Because basically everyone who holds Bitcoin will still exchange their Bitcoin with local currency, in order to be used to transact traditionally. We know that Bitcoin can only be used online, while dollar and poundstrelling can be used online and offline for wider transactions. So, Bitcoin is not a threat. These are two different technologies.

[SistaFista]

Hello guys,

Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?

if yes, give an estimated time this can happen.

i think it is not a threat, bitcoin is just another form of currency in our world. And i think bitcoin still cannot replace USD or other fiat currency for now.
So, it wont be a threat for fiat currencies. But i dont know many years later, maybe it can replace them.

[vitalyan75700]

I think bitcoin will not be a threat and will take its niche as the dollar took a niche in Fiat.
Bitcoin by far is bitcoin. However, the most popular and widespread will be only the cryptocurrency that will preserve the privacy of its holders.
Why change the awl to soap if there are no pluses or profit.

[tegarp90]

Hello guys,

Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?

if yes, give an estimated time this can happen.

From the statement of CEO of twitter.
Bitcoin will be the only one currency in 10 years from now.
So, i think there will be no fiat anymore in this world in 10 years, everything is digitalize and online.

[toral host25]

In my opinion, at some point people will prefer virtual currencies, since it will be easier and safer to own them than banknotes, especially in remote regions, and also because these currencies may become more stable over time.

[timerland]

I don't really foresee bitcoin becoming a threat to any major fiat currencies, because fiat currencies are most likely going to continue to exist regardless of how much market cap or how much adoption bitcoin gains over the years.

But, if you are talking about the level of adoption and the level at which people are using bitcoin rivaling the USD and British Pound, it could be possible. As mass adoption comes by, which will probably be a matter of time, some may even choose bitcoin over fiat for day to day commercial activities.

There are already a niche group of people that are storing their wealth exclusively in bitcoin. BTC will be a nice decentralized alternative that has the potential to go mainstream. But replacinig the actual national fiat currency requires more than just adoption, imho.

[Zeddyn]

I do not think bitcoin will be a threat either USD or Pound sterling in the near future or in the long run, because I believe that it will have their own position, believe all will go their own way.

[kiendepzai24]

So i can take the message from above to be real diversification means not everything in a portfolio should be crypto.

Next question should be if i want to add some Gold to a portfolio can I get it by exchanging crypto for it rather than using fiat?

[Dr.Nina]

US Dollar is the main mood of payment of every international transaction. It is the currency of The United States of America. The United States of America dominated all over the world since long. The other country are dominated by USA. I think this should be changed. And this change can bring the crypto currency. Only crypto currency can bring equality in case of foreign transaction. When one of the crypto currency, Whether it is Bitcoin or other crypto, will be used as main mood of foreign transaction then all currency will feel equality in case of foreign trade. And it is not so far.

[elygil2022]

Can’t we all just get along? Bitcoin is not a threat to any currency. The US dollar and Pound Sterling can coexist with bitcoin just fine.

[senin]

Hello guys,

Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?

if yes, give an estimated time this can happen.

From the statement of CEO of twitter.
Bitcoin will be the only one currency in 10 years from now.
So, i think there will be no fiat anymore in this world in 10 years, everything is digitalize and online.

Bitcoin or any other crypto currency can not become a single currency of the world, nor the basic currency of any particular state. This will always be hampered by the lack of complete regulation of the country's crypto currency and its greater volatility. In this regard, the crypto currency can only slightly squeeze the usual currency in use, but it can not harm ordinary currency, including the dollar or pound sterling. Decentralized crypto currency can only go in parallel with other types of national currencies, however, they can not be substituted.

[brownaxe20]

I would say yes, I think most countries consider it a threat to their economy. Maybe it is indirectly creating a competition to the US dollar not as a form of currency but as a form of a faucet where people from other countries would take as an opportunity for earning dollar while on the other side of the planet thus an uncontrolled faucet would likely affect their economy thus indirectly then affecting the value of dollar. It may have started affecting but we know the economists are really skillful to make some adjustments to battle worst effects so it might not create a great impact.

[brownaxe20]

Indirectly I would say yes! The effects of bitcoin on a country's economy may just affect the currency as well. It may grow or sink in value depending on how big it has gotten to influencing the economic status.

[feny.blackpink]

Yes, it could be a threat for USD or other currency because few years from now, peoples may just using only digital currency.
Cryptocurrency is the best option from my opinion. Everyone won't need money or other fiat currency anymore.

[jmlona]

In a sense bitcoin could be considered a threat to the US dollar and the pound sterling if in the future cryptocurrency becomes the leading currency. Who knows if that will actually happen. I dont think that it is a threat right now.

[marjon]

I think so, we'd even noticed SEC tightened their regulations about virtual currencies and various new blockchain projects (ICOs). Have you seen those video from veteran capitalist as he predicted the Advent of Bitcoin on 1998. He stated it could be a threat to Fiat currency.

[BlasterS]

I think yes, the copany of bitcoin is a big threat since they are slowly growing up and builds a strong foundation to dominate in the whole world which leads them to become invulnerable.

[Pourmeacup]

no bitcoin it's not a treat to fiat currencies!
just think about it, so evident!
bye